After hours of discussing with seniors at work, I've collected the important personal finance schemes and put them down in English for you.

Here are all the Financial benefits I know of living in France as of May 2024. Reading something in French can be hard if you don't yet speak it fluently, I got you! Here's the same stuff in English.

1. Livret A

Definition: A popular savings account with tax benefits.

• Minimum Deposit: €10 (or €1.5 at La Banque Postale)

• Deposit Limit: €22,950 for individuals, €76,500 for entities (exceptions apply)

• Interest Rate: 3% (until January 2025)

• Taxation: Interest is tax-exempt

• Ownership: One per taxpayer or per married couple

• Fund Availability: At any time

• Fund Usage: Financing social housing and urban renewal

2. Livret de Développement Durable et Solidaire (LDDS)

Definition: A sustainable savings account.

• Minimum Deposit: Usually €15

• Deposit Limit: €12,000

• Interest Rate: 3% (until January 2025)

• Taxation: Interest is tax-exempt

• Ownership: One per taxpayer, max two per household

• Fund Availability: At any time

• Fund Usage: Similar to Livret A

3. Livret d’Épargne Populaire (LEP)

Definition: A savings account for low-income individuals.

• Minimum Deposit: €30 initially, then €10 minimum per deposit

• Deposit Limit: €10,000

• Interest Rate: 5% (February 2024 to July 2024)

• Taxation: Interest is tax-exempt

• Ownership: Income limit applies, one per taxpayer, max two per household

• Fund Availability: At any time

4. Livret Jeune

Definition: A savings account for young people aged 12 to 25.

• Minimum Deposit: €10 initially and per transaction

• Deposit Limit: €1,600

• Interest Rate: Minimum 3%, set by banks

• Taxation: Interest is tax-exempt

• Ownership: One per person, aged 12-25

• Fund Availability: Conditions apply for withdrawals based on age

5. Compte Épargne Logement (CEL)

Definition: A home savings account.

• Minimum Deposit: €300 initially, €75 per transaction

• Deposit Limit: €15,300

• Interest Rate: 2%

• Taxation: Varies by account opening date; post-2018 accounts taxed

• Ownership: One per person

• Fund Availability: At any time

• Fund Usage: Eligible for a preferential home loan rate after 18 months

6. Plan Épargne Logement (PEL)

Definition: A long-term home savings plan.

• Minimum Deposit: €225 initially, €540 annually

• Deposit Limit: €61,200

• Interest Rate: 2.25% (for accounts opened after January 2024)

• Taxation: Pre-2018 accounts tax-exempt for 12 years; post-2018 taxed

• Ownership: One per person

• Fund Availability: After 4 years

• Fund Usage: Eligible for a home loan at 3.45% after 3 years

7. Plan d’Épargne en Actions (PEA)

Definition: An equity savings plan for investing in stocks.

• Minimum Deposit: None

• Deposit Limit: €150,000 (or €225,000 if combined with PEA-PME)

• Interest Rate: Variable, based on market performance

• Taxation: Tax-exempt after 5 years (except for social contributions)

• Ownership: One per taxpayer; limited to two per household

• Fund Availability: Partial withdrawals allowed after 5 years

8. Plan d’Épargne Retraite (PER)

Definition: A retirement savings plan introduced by the PACTE law.

• Minimum Deposit: Voluntary contributions

• Interest Rate: Variable, based on investment choices

• Taxation: Contributions are tax-deductible; different tax rules on withdrawal

• Ownership: Open to all, no age or professional condition

• Fund Availability: Upon retirement, with options for lump sum or annuity

• Fund Usage: Long-term savings for retirement

9. Assurance Vie

Definition: A life insurance savings plan.

• Minimum Deposit: Varies, typically none

• Deposit Limit: None

• Interest Rate: Depends on chosen contract (e.g., euro contracts, unit-linked)

• Taxation: Varies by contract duration and deposit period

• Ownership: Open to individuals, including minors (with restrictions)

• Fund Availability: Flexible, depending on contract terms

• Fund Usage: Investment in various financial products with tax benefits

Hope this helped!